India E-bike Battery Market Set to Reach USD 737.79 Million by 2034, Driven by 9.89% CAGR

India E-bike Battery Market : Report Introduction

According to IMARC Group's report titled "India E-Bike Battery Market Size, Share, Trends and Forecast by Battery Type, Battery Pack Position Type, and Region, 2026-2034" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

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India E-bike Battery Market Overview (2026-2034)

The India E-bike battery market size reached USD 315.78 Million in 2024. It is projected to reach USD 737.79 Million by 2033, growing at a CAGR of 9.89% during the forecast period of 2026-2034. This growth is driven by government incentives under the FAME-II scheme, advancements in battery-swapping infrastructure, rising investments in indigenous battery production, increasing fuel prices, and escalating consumer demand for sustainable mobility solutions.

Key Takeaways

• Current Market Size: USD 315.78 Million in 2025
• CAGR: 9.89
• Forecast Period: 2026-2034

• Government incentives under the FAME-II scheme have been pivotal in the market expansion.

• The Production Linked Incentive (PLI) scheme for ACC manufacturing supports indigenous battery production.

• GST rates have been reduced on electric vehicles and charging stations enhancing affordability.

• As of July 2022, India had more than 1.3 million electric vehicles, most of which are two-wheelers.

• Environmental concerns and sustainability commitments by the government have positively influenced EV adoption.

• Electric vehicle sales surged by 168% in 2021 compared to 2020, boosting demand for E-bike batteries.
India E-bike Battery Market Growth Factors

• Government subsidies under FAME and FAME-II are accelerating mass adoption of electric two-wheelers and battery technologies across India.

• The Production Linked Incentive (PLI) scheme (launched May 2021) is reducing costs of local ACC battery manufacturing and strengthening domestic supply chains.

• GST reductions - from 12% to 5% on electric vehicles and from 18% to 5% on chargers and charging stations - are significantly stimulating market demand.

• Rising fuel prices are improving the cost competitiveness and attractiveness of EV ownership.

• Expansion of battery-swapping infrastructure is enhancing user convenience and reducing charging downtime.

• Growing consumer preference for sustainable and green mobility solutions is driving long-term market growth.

• EV market players are increasing investments in localized battery production to improve supply security and reduce costs.

• The government's target of 30% EV adoption is strengthening long-term industry outlook and investor confidence.

• Rising environmental awareness is accelerating consumer acceptance and purchase intent for electric two-wheelers.

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India E-bike Battery Market Trends

• The FAME scheme and its second phase (launched April 2019) have significantly boosted electric vehicle sales across India.

• The Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC) batteries is making batteries more affordable and widely available.

• Reduced GST rates on electric vehicles and charging infrastructure are delivering both demand-side and supply-side benefits.

• Battery-swapping solutions such as those developed by Sun Mobility are improving convenience and reducing range anxiety.

• Technological innovations, including solid-state battery development by Ola Electric, are enhancing energy density, safety, and battery life.

• Rising environmental awareness among Indian consumers is increasing demand for sustainable transportation options.

• Government decarbonization policies for the transport sector are positively impacting electric vehicle and battery demand.

• Rapid growth in electric vehicle unit sales-especially electric two-wheelers- is expanding the addressable market for e-bike batteries.

• Growing preference for green, affordable, and efficient mobility solutions continues to support long-term market growth.

India E-bike Battery Market Segmentation

• Battery Type Insights:

• Lithium-Ion Battery: Most preferred due to high energy density and efficiency.

• Lead Acid Battery: Older technology but still in use in some segments.

• Others: Includes emerging and alternative battery technologies.

• Battery Pack Position Type Insights:

• Rear Carrier: Battery pack mounted at the rear carrier position.

• Down Tube: Battery pack positioned on the down tube of the e-bike frame.

• In Frame: Integrated battery pack within the bike frame for aesthetics and balance.

Regional Insights

• North India
• South India
• East India
• West India

The market is geographically diversified across North India, South India, East India, and West India. South India has emerged as a dominant region, contributing significantly to market share and growth, benefitting from strong government policies and higher adoption rates. The market's CAGR remains at 9.89% during the forecast period.

Recent Developments & News

• August 2024: Sun Mobility partnered with Odysse Electric to provide battery-swapping technologies for the Vader SM E-bike, improving accessibility and reducing charging time, thereby boosting market demand.

• June 2024: Ola Electric introduced solid-state battery technology offering improvements in energy density, safety, and efficiency, enhancing the range and durability of e-bikes.

Key Highlights of the Report

• Comprehensive quantitative analysis of the India E-bike battery market from 2019 to 2033.

• Detailed market segmentation by battery type and battery pack position type.

• Insights into key growth drivers, market trends, and regional dynamics.

• Competitive landscape assessment including company evaluation and strategy analysis.

• Forecasts at regional and national levels aiding strategic decision making.

• Porter's five forces analysis for understanding market attractiveness.

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